Download The main trends of socio-economic development of the Republic of

Main trends in economic and social development of the Republic of
Belarus in January-March 2014
In January-March 2014 Belarusian economy grew 0.9 percent compared
to January-March 2013.
The highest growth rates in industry were registered in the output of wood
products (105.3 percent), chemicals (105.3 percent), oil products (103,6 %).
The share of innovative products in the total volume of production was
15 percent.
Financial indicators demonstrate growth of revenues from sales of
products and services at 9.2 percent, profitability of sales in industry grew at
7.4 percent and in agriculture at 5.7 percent.
Situation in the social sphere remains stable; the unemployment rate at
the end of March 2014 amounted 0.5 percent of the economically active
population.
A 6.6 percent growth of real incomes of population contributed to the
growth of retail trade sales through all distribution channels by 13.1 percent.
Despite a decrease of the exports of goods and services (96.6 percent), in
January-March 2014 the balance of foreign trade of goods and services
(according to the balance of payments methodology) was positive in the amount
of $ 677.7 million. The balance ratio towards GDP amounted 4.4 percent
(projected at 0.1 percent).
During January-March 2014 foreign exchange reserves and gold of the
Republic of Belarus (by the IMF methodology) amounted to the equivalent of
$ 5.72 billion.
Consolidated budget surplus amounted to 1.1 trillion rubles (0.7 percent
of GDP).
Owing to balanced macroeconomic, monetary and fiscal policies the
exchange rate of the Belarusian Ruble at an average remained stable. In
general during January-March 2014 compared to December 2013 the exchange
rate of the Belarusian Ruble softened towards Russian Ruble, US Dollar and
Euro within acceptable limits.
Stability in the monetary sphere allowed to reduce the refinance rate
down to 21.5 percent (active from May 19, 2014).
Owing to the economic policies the consumer price index grew slightly
(at 4.9 percent) in January-March 2014 compared to December, 2013.